The Hartford Financial Services Group (NYSE:HIG) Price Target Cut to $130.00 by Analysts at Wells Fargo & Company

The Hartford Financial Services Group (NYSE:HIG) had its target price reduced by Wells Fargo & Company from $134.00 to $130.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Several other brokerages also recently commented on HIG. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $135.00 in a report on Monday, January 6th. UBS Group boosted their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets increased their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Bank of America boosted their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $122.28.

The Hartford Financial Services Group Stock Up 1.7 %

Shares of The Hartford Financial Services Group stock opened at $109.36 on Tuesday. The Hartford Financial Services Group has a 1 year low of $81.87 and a 1 year high of $124.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $31.70 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The business has a 50-day moving average of $114.31 and a two-hundred day moving average of $112.49.

The Hartford Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.90%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.84%.

Insider Buying and Selling

In related news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the transaction, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several hedge funds have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of The Hartford Financial Services Group by 27.6% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock worth $22,309,000 after buying an additional 48,004 shares during the last quarter. HighTower Advisors LLC raised its holdings in The Hartford Financial Services Group by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after acquiring an additional 7,350 shares during the period. Dai ichi Life Insurance Company Ltd lifted its position in The Hartford Financial Services Group by 3.3% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock worth $16,172,000 after acquiring an additional 4,449 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of The Hartford Financial Services Group during the third quarter worth approximately $633,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of The Hartford Financial Services Group during the third quarter worth approximately $19,005,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.